SpringOwl Activist Presentation Deck
Constantly Changing Yahoo Leadership
While the world has
shifted from desktop
revenues to mobile
ones, Yahoo has
experienced a number
of changes in
leadership, changes in
the board, and outside
distractions including:
2012
A Revamping of
Yahoo's Board
SpringOwl!
Asset Management LLC
Yahoo's board selling half its
stake in Alibaba for $7 billion
2007
Terry Semel
Quits
Source: Spring Owl Asset Management LLC
Jerry Yang
Becomes
CEO
Marissa Mayer
Becomes CEO
2008
Carl Icahn
Seeking And
Receiving Board
Seats
2009
Hostile Takeover by
Microsoft
2013
New Mayer-
friendly Board
Appointments
And Executives
More Board Turnover
& Executive
Departure
2010
Carol Bartz
becomes
CEO
Dan Loeb
Quits The
Board
2011
Board Fires Carol
Bartz Only 2.5 Yrs
Into Her Tenure
Proxy Fight Of Dan Loeb
From Third Point
2014
Starboard Value
Challenging Yahoo's
Leadership
Mayer Firing Her Former
Colleague From Google As Her
Hand-picked COO A Year After
Hiring
2012
Thompson Resigns
After Having Lied
About His
Scott Thompson Becomes
CEO
Undergrad Major In
Computer Science
2015
Yahoo Executives
Quitting The Company
Throughout 2015
Confidential | For Discussion Purposes Only | 26View entire presentation